Evolutionary Alternatives to Equilibrium Economics.
Built on the fictional concept of equilibrium, mainstream economics provides a method of analysis that, when paired with the calculus, enables relatively easy identification of maximum and minimum values. Lacking empirical evidence of its behavioral assumptions, the profession accepts such familiar...
| Publicado en: | American Journal of Economics & Sociology Vol. 69; no. 4; pp. 1155 - 1178 |
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| Formato: | Artículo |
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Wiley-Blackwell
October 2010
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=510928103&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 510928103 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00029246 AES jtl: American Journal of Economics & Sociology issn: 00029246 maglogo: N pubinfo: dt: October 2010 vid: 69 iid: 4 pid: 480 pub: Wiley-Blackwell artinfo: ui: 510928103 10.1111/j.1536-7150.2010.00739.x ppf: 1155 ppct: 23 formats: fmt: – @attributes: type: T – @attributes: type: P size: 1.1MB tig: atl: Evolutionary Alternatives to Equilibrium Economics. aug: au: Pluta, Joseph E. su: Economic equilibrium Evolutionary economics Institutional economics Philosophy of economics sug: subj: Economic equilibrium Evolutionary economics Institutional economics Philosophy of economics ab: Built on the fictional concept of equilibrium, mainstream economics provides a method of analysis that, when paired with the calculus, enables relatively easy identification of maximum and minimum values. Lacking empirical evidence of its behavioral assumptions, the profession accepts such familiar claims as consumer maximization of utility and business firm maximization of profit or revenue. In place of the relatively static concept of equilibrium, the Veblen-Myrdal notion of circular and cumulative causation (CCC) arguably has greater descriptive capability and more penetrating insight for policy recommendations. This article traces the historical origins of both concepts and argues that CCC offers considerable potential for a broad, dynamic, interdisciplinary, more thorough, and more accurate analytical framework. Specific examples of work that has been done along with suggestions for future applications of this concept are given. Reprinted by permission of the publisher. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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